Watchmen Hearing Canceled

Here’s some good news, hopefully. Next Tuesday’s court conference between Fox and Warner Bros. has been canceled, indicating that a settlement in the case could be near.

Settlement talks between the two sides became serious before the weekend and continued throughout the weekend.

The settlement could cost Warners tens of millions of dollars. Warner Bros. actually had a similar copyright ownership issue ruled against them in 2005 for The Dukes of Hazzard. That settlement cost the studio a reported $17.5 million. Interestingly enough, the same Judge, Gary A. Feess, blocked that release.

The film’s budget is somewhere in the $130 million range, but advertising and other expenses make Warners stake higher (I’ve seen it reported at $150 million, the advertising budget is likely around the $20 million range). THR reports that Fox is asking for upfront fees as well as a percentage of the back-end.